Iowa Tops List of 'Cheapest' States for Car Ownership

By Kelsey Mays  on August 10, 2014

The Midwest is home to some of the cheapest states in which to own a car, according to Wyoming and much of the South, meanwhile, are the priciest. The personal-finance website analyzed average repair, insurance and gasoline costs to rate all 50 states plus the District of Columbia from the cheapest to the most expensive, in terms of annual vehicle-ownership costs.

Related: What Are the Most Common Car-Insurance Discounts?

Iowa took top honors, with an annual driving bill of just $1,942. It's one of three states where annual driving costs total less than $2,000; Ohio ($1,973) and Illinois ($1,999) were the other two. Conversely, Wyoming ran $2,705 per year. Louisiana ($2,555), Florida ($2,516) and Mississippi ($2,487) joined the Cowboy State as the nation's priciest places to own a car. Curiously, fourth-cheapest Idaho ($2,001) was $704 cheaper than its neighbor to the east, but $600 of that was because of Wyoming's sky-high gas prices.

Get the full list below. chart

Car Buying

Senior Consumer Affairs Editor Kelsey Mays likes quality, reliability, safety and practicality. But he also likes a fair price.  Email Kelsey